Mohan Sinha
01 Jul 2025, 08:13 GMT+10
LONDON, U.K.: British oil giant Shell has denied reports that it is in talks to acquire rival oil company BP.
The Wall Street Journal has reported that Shell was engaged in "early stage talks" to buy BP, citing unnamed sources familiar with the situation. However, in a statement to the London Stock Exchange, Shell firmly rejected the claim.
"In response to recent media speculation, Shell wishes to clarify that it has not been actively considering making an offer for BP," the company said. "It confirms it has not approached BP, and no talks have taken place regarding a possible offer."
Shell has repeatedly dismissed rumors of a takeover bid, emphasizing that its focus remains on streamlining and simplifying its operations.
Some market analysts have said BP could be an appealing acquisition target. The company's recent decision to pull back from its renewable energy transition plan has left its stock undervalued compared to other major oil firms.
BP is also still dealing with the long-term fallout from the 2010 Deepwater Horizon disaster, which killed 17 workers and led to billions in compensation and cleanup costs in the Gulf of Mexico.
Get a daily dose of Perth Herald news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Perth Herald.
More InformationLONDON, U.K.: British oil giant Shell has denied reports that it is in talks to acquire rival oil company BP. The Wall Street Journal...
LONDON, U.K.: A little-known investment fund based in the United Arab Emirates has emerged as the most prominent public backer of U.S....
New Delhi [India], July 1 (ANI): The per capita debt of individual borrowers in India has witnessed a sharp increase over the past...
Guwahati (Assam) [India], July 1 (ANI): Assam has set a new record in paddy procurement by procuring nearly 7 lakh MT of paddy during...
ABU DHABI, 1st July, 2025 (WAM) -- The Central Bank of the United Arab Emirates (CBUAE) has issued commemorative gold and silver coins...
BEIJING, July 1 (Xinhua) -- Until this year, few could have anticipated that a quirky, toothy plush doll would capture the hearts of...
SYDNEY, NSW, Australia - , Australian Federal Police (AFP) have shut down a secret drug lab in Sydney's west and seized more than 100kg...
Washington [US], July 1 (ANI): Actor Orlando Bloom has shared a series of cryptic messages on his Instagram stories, hinting at a new...
Saint George's [Grenada], July 1 (ANI): Veteran Australian spinner Nathan Lyon has expressed his desire to continue playing Test cricket,...
Two Tasmanian state polls imply another hung parliament at the July 19 election under Tasmania's proportional system. In one of these...
Jamshedpur (Jharkhand) [India], June 30 (ANI): Australian striker Jordan Murray has officially parted ways with Jamshedpur FC, according...
New Delhi [India], June 30 (ANI): In a landmark step towards deepening maritime cooperation in the Indo-Pacific, the Coast Guards of...